Welcome to our dedicated page for Knot Offshore Partners Lp news (Ticker: KNOP), a resource for investors and traders seeking the latest updates and insights on Knot Offshore Partners Lp stock.
KNOT Offshore Partners LP (NYSE: KNOP) is a publicly traded master limited partnership that owns, operates and acquires shuttle tankers, with a focus on long-term charters in offshore oil production regions in Brazil and the North Sea. The KNOP news feed on Stock Titan brings together the Partnership’s press releases and related coverage so readers can follow developments affecting its shuttle tanker operations and capital structure.
According to its announcements, KNOT Offshore Partners LP regularly issues news on quarterly cash distributions to common unitholders and holders of Series A Convertible Preferred Units, earnings releases for interim periods, and utilization and charter coverage for its fleet. The Partnership also reports on new vessel acquisitions from Knutsen NYK Offshore Tankers AS, sale and leaseback transactions for specific shuttle tankers, and refinancings of revolving credit facilities and term loans secured by its vessels.
Governance and corporate actions are another recurring theme in KNOP news. The Partnership has published notices and proxy materials for its annual meeting of limited partners, disclosed adjournments and rescheduled meeting dates due to lack of quorum, and announced nominations and appointments to its Board of Directors. It has also reported receiving an unsolicited non-binding proposal from Knutsen NYK Offshore Tankers AS to acquire all publicly held common units through a merger, with a conflicts committee evaluating the offer.
Investors and observers can use this news page to review KNOP’s earnings releases, distribution declarations, charter extensions with counterparties in Brazil and the North Sea, financing updates and governance developments in one place. For those following the deep sea freight transportation and shuttle tanker segment, the KNOP news stream provides direct insight into how the Partnership communicates its performance, fleet activity and strategic decisions over time.
KNOT Offshore Partners reported Q3 2020 revenues of $71.3 million, slightly up from $70.3 million in Q2. Net income increased to $25.1 million, compared to $21.7 million in Q2. Despite operating income declining to $30.9 million, the partnership maintained 100% utilization of its fleet. Adjusted EBITDA reached $53.3 million, and distributable cash flow was $28.9 million, with a distribution coverage ratio of 1.60. The impact of COVID-19 remained limited, and the partnership plans to secure new charters following the redelivery of a vessel in November.
KNOT Offshore Partners LP (NYSE:KNOP) is set to announce its Third Quarter 2020 financial results on November 19, 2020, before market opening. Following this, the company will host a conference call at 11:00 AM ET to discuss the results. Interested parties can join via phone or through a live webcast available on the company's website. The earnings presentation will also be available prior to the call. For those unable to attend live, a recording of the call will be accessible until November 26, 2020.
KNOT Offshore Partners LP (NYSE:KNOP) has announced a quarterly cash distribution of $0.52 per unit for the quarter ending September 30, 2020. This equates to an annualized distribution of $2.08 per unit. The payment will be made on November 13, 2020 to all unitholders on record by October 30, 2020. KNOT Offshore operates shuttle tankers under long-term charters in offshore oil production areas of the North Sea and Brazil, structured as a publicly traded master limited partnership.